Mar 2, 2010

Pennsylvania Tax Revenues Falling Short Of What State Lawmakers Projected


Pennsylvania is on course for another fiscal train wreck this year according to the latest Department Of Revenue figures. Last year Governor Ed Rendell and state legislative leaders in both the House and Senate were not able to pass a budget until the end of October. Even then the budget that was passed was packed full of projected revenue numbers and voodoo mathematics. Just imagine how this year's budget negotiations are going to play out with these figures.

From The Department Of Revenue Press Release:
Acting Secretary of Revenue C. Daniel Hassell today reported that Pennsylvania collected $1.5 billion in General Fund revenue in February, which was $102.3 million, or 6.4 percent, less than anticipated. Fiscal year-to-date General Fund collections total $16 billion, which is $476.7 million, or 2.9 percent, below estimate.

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I just don't understand how our state lawmakers don't do something to cut spending when they know state tax revenues are coming int 2.8 percent below estimates. Commonsense tells you not to just set back and do nothing. That isn't leadership. Neither is Governor Ed Rendell's budget proposal that wants to once again increase state government spending. Again where does the madness stop?

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